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The preparation of normative documents related to the establishment of a private pension fund in Azerbaijan has been completed, Chairman of the State Social Protection Fund Himalay Mamishov said at the Fund's 2023 report event, Report informs.

Last year, the revenues of the State Social Protection Fund (SSPF) were 6,667.2 million manats ($3.92 billion), 16.6% more than the previous year, SSPF Chairman Himalay Mamishov said at the Fund's 2023 report event, Report informs.

The State Social Protection Fund (SSPF) under the Azerbaijani Ministry of Labor and Social Protection of the Population allocated 600 million manats ($352.9 million) for investments by November 1, 2023, and allocated an additional 200 million manats ($117.6 million) in recent days, Minister Sahil Babayev

The budget of the State Social Protection Fund under the Ministry of Labor and Social Protection of Population is expected to be 6,919,900,000 manats ($4.07 billion) in 2024, up 10.4% from the approved forecast of 2023, Report informs, citing the Ministry of Finance.

The legislative framework for the establishment of private pension funds in Azerbaijan is being improved and the process of agreement with relevant institutions is underway, Chairman of the State Social Protection Fund's (SSPF) Himalay Mamishov said at the briefing regarding the 6-month report of the

Social payments increased 3.8 times this year, posting nearly twofold growth in this area compared to 2018, Chairman of the State Social Protection Fund, Himalay Mamishov, told a press briefing on the 6-month report of the Fund, Report informs.

In January-June of this year, the income of the State Social Protection Fund's (SSPF) was 3,270.7 billion manats ($1.9 billion), which is 16.6% more than in the same period of 2022, Chairman Himalay Mamishov said during his speech at the briefing on the 6-month report of the institution, Report informs

Currently, the Nakhchivan Autonomous Republic office of the Central Bank of the Republic of Azerbaijan, the State Social Protection Fund of the Autonomous Republic of Nakhchivan, the State Committee on Urban Planning and Architecture, the State Border Service, Prosecutor's Office, Nakhchivan Head Office

The State Social Protection Fund (SSPF) under the Azerbaijani Ministry of Labor and Social Protection of the Population has summed up the results of two open tenders for banking services, Report informs.

From January 1, the State Insurance Commercial Company (Azersıgorta) had to transfer most of its powers to the State Social Protection Fund under the Ministry of Labor and Social Protection of the Population, and became a joint-stock company and operated under conditions of intense competition.